Nike president Trevor Edwards said he was delighted to extend the company’s partnership with the Blaugrana.

“FC Barcelona is one of football’s greatest clubs, inspiring millions of sports fans across the globe, and we are extremely proud to continue our partnership together,” he said.

“Our deep relationship with FC Barcelona extends Nike’s leadership position in football and we are excited by the opportunity to further grow the world’s most global sport.”

Although the exact financials of the agreement are yet to be revealed, it is believed to surpass Manchester United’s megadeal with Adidas, worth US $109 million per year.

Nike and Adidas are embroiled in a major battle for ascendancy in the sporting world, with the latest report suggesting that the American organization is close to winning its German competitor’s current deal with Chelsea.